Google shares hit new record - and profits sevenfold

Posted on Wednesday, February 02 2005 @ 20:02 CET by Thomas De Maesschalck

Google's shares soared 12.5 percent today as a result of the company announcing quarterly profits far higher than analysts expected.

The shares rose $24.07 today to $215.97, breaking the previous peak of $205.30

The total revenue of Google for Q4 2004 was $1.03 billion, with $204.1 earnings - or 71 cents per share. In 2003 the company had a revenue of $512.2 million and a net income of $27.3 million.

After subtracting commissions paid to other Web sites in its advertising network, Google's fourth-quarter revenue worked out to $653.5 million, more than doubling from a comparable figure of $296 million in the previous year.

More details at FNC

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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